Bahlil Opens Opportunity for Indonesia to Import Oil from Russia

Jakarta – Energy and Mineral Resources Minister Bahlil Lahadalia has indicated Indonesia’s willingness to explore importing crude oil from Russia as an alternative to supplies from the Middle East, which face disruption.

Bahlil stated that the government is considering all potential oil-producing nations as alternative sources to replace Middle Eastern supplies that have become constrained. This includes Russia.

“All countries are a possibility. What matters for us now is whether the goods are available and whether the price is competitive. That is what is most important,” Bahlil said during an interview at the Energy Ministry in Jakarta on Tuesday, 17 March 2026.

When asked specifically about Russia, Bahlil responded positively, noting that “even America is now opening up to Russian oil.”

The United States has taken an unprecedented step in response to global energy market turbulence caused by conflict with Iran. On Thursday, 12 March 2026, Washington granted temporary permission to purchase Russian crude oil currently stranded at sea, aimed at easing pressure on global energy supplies.

US Treasury Secretary Scott Bessent described the policy as limited and temporary in scope. In a post on platform X, Bessent emphasised that the measure was not intended to broadly reopen trade in Russian oil.

He characterised the policy as a “narrowly tailored and temporary step” applicable only to oil already in transit.

According to information obtained by CNBC, approximately 124 million barrels of Russian crude oil are currently stranded at sea across around 30 locations worldwide. This volume is equivalent to roughly five to six days of US oil demand.

Washington’s temporary authorisation to purchase the stranded oil is expected to help ease energy market volatility that has escalated since the outbreak of conflict with Iran.